GM posts $15.5 billion loss

[diddiyo]

Source: cnn

Even excluding charges, automaker loses far more than expected as vehicle sales tumble.

Discuss.

[Mr. Wyndham]

According to Wagoner, they lost exactly as much as they expected. Hence the rapid-restructuring plan to raise 15 billion in cash....

I won't pretend this is good news; because it's NOT. But I'm done reading any media narration on the subject. I'll look for numbers, and GM quotes...the writers make it seem worse than it is, imo.

[BowtieGuy]

The total profit shown from last year's second quarter of 784 million shows just how much the market fluctuates. I wouldn't worry because you know for a fact the company saw this coming and already has taken steps to correct it. GM didn't get where it is without having a flexible plan.

[Muscle Master]

meh, don't complain, Do you know how much Chrysler lost

[Speedy1975]

What's really bad is their stock price. It was nearly $50 a share a year ago. Today it's $10. On a side note, they lost more money than Exxon made. That's amazing in itself

[Sierra]

Ford also took a loss. Ford and GM were selling SUV's and trucks left and right. I said this before though, Gm did change its focus, I noticed at the car show in Philly, that all you saw from GM were cars, there were trucks but not the main focus as in the past. GM is now poised with fresh looking fuel effiicient cars. Yes peopel traded there trucks in for smaller cars but I predict you will see a long term gain in GM because were either at the beginnings of their loans or leases and can not get out of them.

[diddiyo]

Originally Posted by Sierra

I said this before though, Gm did change its focus

too late.

[The_Stache]

Originally Posted by diddiyo

too late.

In a mutli-national company that still makes more money than you will see in your lifetime regardless of posted "losses" it is NEVER to late to rethink strategy and change direction.

GM North America could literally fold and the company would still be fine due to overseas business.

[diddiyo]

Originally Posted by diarmadhi

GM North America could literally fold and the company would still be fine due to overseas business.

then why's everybody like "OH NOES!!!" and why is the government thinking about bailing them out?

[Mr. Wyndham]

Originally Posted by diddiyo

then why's everybody like "OH NOES!!!" and why is the government thinking about bailing them out?

They're not, and that's the sad part. They can order them to spend money (ie CAFE), but they can't provide ANY aid...much less attempt to level the playing field for all three.....*sighs*

As for the "Oh no", it's because of what GM used to be. A Behemoth of a Motor company that controlled 50+ percent of the market share in teh country. Then a couple of management "generations" got lazy...or didn't care...or something....and here we are: A phenominal management team that was on track to a successful turnaround; but then the country+economy+gas prices went face first into a wall...

[diddiyo]

Originally Posted by Dragoneye

but they can't provide ANY aid...

and why should they? would you want the government to bail out let's say coca cola or mcdonalds as well? I think you (or all of us?) are a little biased when it comes to GM because this is a Camaro forum.

[GTAHVIT]

Bail outs are nothing new. I don't know if they should or shouldn't.

I've lost count of how many times the airlines have been bailed out. In my opinion GMs impact on this country is such that it deserves consideration. My guess is they would rather not be bailed out. However, I don't think they would say no...

[Xanthos]

I'm honestly not worried - I can still see myself being able to buy and drive only chevy's (or buicks, really. I've always been a buick guy - not counting the camaro/firebird and the corvette) for the rest of my lifespan. Just because they lost money doesn't mean they are going out of business. It merely means that instead of being the worlds largest automaker, they will simply be an automaker.
- Xanthos

[Mr. Wyndham]

Originally Posted by diddiyo

and why should they? would you want the government to bail out let's say coca cola or mcdonalds as well? I think you (or all of us?) are a little biased when it comes to GM because this is a Camaro forum.

Not a full bailout. Never...that would be ridiculous in any industry. Lassiez-faire is a concept I believe in. But some support would be nice...there's no reason that a foreign manufacturer should have an easier time conducting business in this country than our OWN companies. That's the beef I have surrounding this issue.






...frankly; if the world was perfect, and I had my way - there'd be a substantial tariff placed on all imported vehicles to discourage people from throwing billions out of this country....but that's the extremist in me....